SEOUL -- The South Korean government on Tuesday dismissed a report that another foreign vessel carrying North Korean coal has entered a southeastern port in the country, potentially in breach of U.N. Security Council sanctions.

VOA, a U.S.-based broadcaster, reported earlier that a Belize-flagged ship, the Jin Long, docked at South Korea's southeastern port of Pohang on the weekend and is still believed to be at the port. It cited the MarineTraffic vessel locating service.

SEOUL -- President Moon Jae-in on Tuesday called for steps to remove excessive and unnecessary regulations in the financial sector as a way of allowing new businesses, such as Internet-only banks, and increasing market competition that he said will eventually benefit consumers.

"Regulations can increase the value of a new industry but also prevent one," the president said in a special meeting to discuss government deregulation, especially in the banking sector.

SEOUL -- The state-run Korea Electric Power Corp. (KEPCO) has seen its share price plunge in recent trading sessions over a series of bad news, including the government's planned cut in electricity bills over a blistering heat wave, analysts said Tuesday.

Shares of KEPCO slipped 1.93 percent to finish at 30,450 won (US$27.1), this year's lowest, after Seoul announced measures to cut electricity prices for July and August, and expand discounts for lower-income families and households with infants. Over the past five sessions, the share price dived 7.02 percent.

SEOUL -- South Korea will adjust the residential progressive electricity tariffs for July and August to ease the household burden from heavy electricity bills caused by the unprecedented summer heat, the energy ministry said Tuesday.

The Ministry of Trade, Industry and Energy said it will temporarily upgrade the ceilings of the first two stages of the progressive tariffs for residential power use, which would save about 276.1 billion won (US$245.2 million), or about 20 percent of the total, in energy costs for the peak summer season.(END)